Lasting Power of Attorney (LPA)

As the other cornerstone of later life planning, the LPA enables your loved ones to take over your affairs if you lose your mental capacity. There are two distinct categories to consider, Personal Welfare and Property & Finance. The implications of not having LPAs are substantial costs, long delays, and potential loss of control to someone that isn’t appointed by you.

Many people do not understand how important having a Lasting Power of Attorney (LPA) is.

It is often one of those ‘things’ that tends to get put on hold, because we may not really know what a LPA is; how it can benefit us; or more commonly, just think we will get round to it when we are ‘older’.

Life is unpredictable, and a person’s physical or mental health can change overnight – whether it is a severe stroke, a sudden accident or if our mind gives up on us. Don’t make the same mistake of thinking that a LPA is just for the elderly.

Without a valid LPA in place, an application has to be made to the court to seek a Deputyship Order. This can be very expensive and takes time.